PETALING JAYA: Over the past few years, the situation for construction companies has always been the case of being all dressed up for the occasion.
While Covid-19 has certainly thrown them into the pool of casualties, only second to that of the tourism-related sector, it was not just the pandemic that dropped the anchor on the construction industry.
It was the lack of clarity that has mostly stemmed from the patchy rollout of jobs from the government since 2018.
The pandemic put a halt in the repeated about-turns on the status of mega infrastructure projects as Putrajaya focused its finances on economic stimulus packages to assist the people and businesses.
Shares in Top Glove Corp Bhd gained as much as 4.76% in the afternoon session after posting another set of record quarterly results and dividend payout.
KUALA LUMPUR (March 9): Top Glove Corp Bhd’s earnings for the December to February quarter is expected to remain strong. The earnings anticipation is fuelled by stable average selling prices (ASPs) on the back of strong global demand for rubber gloves amidst the Covid-19 pandemic. Top Glove will be releasing its result for the second quarter ended Feb 28, 2021 (2QFY21) today. The market consensus forecast Top Glove's annual profit to come in at RM10.16 billion for the financial year ending Aug 31, 2021 (FY21).
KUALA LUMPUR (March 8): Technology-related stocks on Bursa Malaysia continued to fall on profit taking today, as the selldown on US technology stocks weighed on sentiment and investors shifted interest to other recovery plays.
Bursa Malaysia’s technology index fell 6.09% to 79.81, with Malaysian Pacific Industries Bhd, ViTrox Corp Bhd and UWC Bhd topping the list of losers.
MPI was the top loser, plunging RM4.52 or 11.47% to RM34.88, followed by ViTrox’s RM1.22 or 7.71% drop to RM14.60, and UWC sinking 68 sen or 11.7% to RM5.13.
Meanwhile, KESM Industries Bhd slid 62 sen or 4.59% to RM12.88, Unisem (M) Bhd lost 59 sen or 7.29% to RM7.50, Penta Master Corp Bhd tumbled 47 sen or 8.22% to RM5.25, and D&O Green Technologies Bhd slipped 41 sen or 10.57% to RM3.47.